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BOARD ACTION: Awards for Two Companies

For more information contact:
Tina Hoffman, Iowa Economic Development Authority
Phone: 515.725.3150 or Cell: 515.783.8225
communications@iowaeda.com

Economic Development Board Approves Awards for Two Companies

December 20, 2013 (DES MOINES, IA) –  The Iowa Economic Development Authority (IEDA) board today awarded direct financial assistance and tax benefits to two companies for job creation and expansion projects. Today's awards will assist in the creation of 116 jobs and will result in over $24 million in new capital investment for the state.  

“I am pleased to see today’s awards leveraging growth in our existing industries in Iowa,” said IEDA Director Debi Durham. “The additional jobs and infrastructural improvements are not only beneficial for the communities and people impacted, but also a boon for the state’s economy.”

The board approved assistance for planned or proposed projects located in Coralville and Muscatine.

ConnectFive relocates to accommodate expansion
ConnectFive is a user-experience (UX) design company that designs digital products and services that are easy to use and effective for business.  The company provides UX consulting work for other company’s digital products and services.  In addition to providing consulting services, ConnectFive is expanding into software development and will be marketing tools that will create a new profit center for the company.  The company plans to relocate into a larger building in Coralville to accommodate this expansion.  The company was awarded $75,000 in direct financial assistance for this $647,260 capital investment that is set to create 10 jobs.

Heinz plans expansion in Muscatine
H.J. Heinz Company is a global U.S. based food company with leading brands that include Heinz, Lea & Perrins, Ore-Ida, Smart Ones, Bagel Bites, and Classico.  Heinz is headquartered in Pittsburgh and employs approximately 30,000 people worldwide.  The company’s first expansion outside of Pittsburgh was to Muscatine in 1893.  The board awarded the company tax benefits for an expansion project that involves building remodeling and purchasing additional manufacturing machinery and equipment.  The $24.5 million capital investment is expected to create 106 jobs, of which six are incented.

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Download a spreadsheet of today's awards:
https://www.iowaeconomicdevelopment.com/UserDocs/documents/IEDA/dec13awards.pdf

 

 

 

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Iowa Economic Development Authority
200 East Grand Avenue
Des Moines, Iowa 50309
Phone: 1.515.348.6200
email: Email Us

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